Pfizer signs 20-year lease for new New York City headquarters
Pfizer is getting glittery new digs in New York City.
The pharma giant has signed a 20-year lease at the Spiral, a glass skyscraper going up in Manhattan's Midtown West neighborhood, the company said in a statement.
Pfizer will transition employees from its headquarters at 235 E. 42nd St., which it has occupied since 1961, starting in 2022.
The relocation news isn't unexpected. Reports that Pfizer was planning to move into the new 65-story building emerged last summer. However, the announcement is a reaffirmation of the company's commitment to keeping its headquarters in the U.S. Before dropping its $160 billion merger with Allergan in 2016, Pfizer reportedly planned to move its headquarters to Dublin to lower its effective tax rate.